Indices used as benchmarks in financial instruments and financial contracts

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19 May 2015

Ian Hudghton (Greens/EFA) ‒ The economic crash proved that our financial institutions need to be fully regulated. The LIBOR scandal emphasises that banks cannot be trusted to regulate themselves. The Commission proposal is therefore welcome in so far as it goes. Unfortunately Parliament has voted to weaken the proposal and that is to be regretted.